EUR/USD falls over 100 pips from highs as investors assess NFP data

EUR/USD fell more than 130 pips over the last minutes, as the dollar strengthened across the board once investors digested the US nonfarm payrolls report.

Even though US economy added fewer jobs than expected in January, 151,000 vs 190,000 expected, wages rose and the unemployment rate fell below 5% to an 8-year low of 4.9%.

EUR/USD initially moved up and scored a fresh 3 ½-month high of 1.1245, before turning lower and falling all the way back to 1.1113. At time of writing, the pair is trading at 1.1125, recording a 0.72% daily loss, following four consecutive gains.

EUR/USD has retraced most of its Thursday rally over the last minutes, although it stills clings to important weekly gains as it holds near 3-month highs above the 200-day SMA.
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